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Cryogenic Equipment Market Size
- Report ID: GMI2918
- Published Date: Jul 2024
- Report Format: PDF
Cryogenic Equipment Market Size
Cryogenic Equipment Market was valued at USD 19.4 billion in 2023 and is set to grow at a CAGR of over 5.5% between 2024 and 2032. Growing public and private participation in infrastructural developmental activities has created a significant boom in the global economy over the past decade. Rapid industrialization has led to a widespread adoption of cryogenic equipment’s for the storage, transportation, and distribution of liquefied gases. The increasing efforts of the government to reduce greenhouse gas emissions coupled with the rising demand for unconventional sources of energy has also led to industry growth.
The development of innovative and sustainable technologies has resulted in enhanced techniques for cryogenic handling which has also provided opportunities for business expansion. In addition, the exponential investments toward development of healthcare infrastructure including hospitals, public & private labs, will boost the industry growth. The introduction of stringent GHG regulations coupled with the increasing LNG trade will further elevate the industry revenue.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Cryogenic Equipment Market Size in 2023: | USD 19.4 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 5.5% |
| 2032 Value Projection: | USD 31.1 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 90 |
| Tables, Charts & Figures: | 12 |
| Segments covered: | Product, Cryogen Type, Application, End Use, & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Cryogenic Equipment Market Scope
